|Net Worth:||$7 Billion|
|Born:||May 28, 1962|
|Country of Origin:||France|
|Source of Wealth:||Entrepreneur|
As of 2021, Francois Pinault’s net worth is roughly $7 Billion dollars.
François Pinault is a French billionaire businessman, the majority shareholder and honorary chairman of the retail conglomerate Kering, and art collector. Pinault is one of the richest businessmen in the world.
François-Henri Pinault was born on the 28th of May, 1962, in Rennes, France. Pinault is the son to François Pinault and Louise Gautier. He attended the prestigious international business school ‘HEC School of Management,’ located in Paris, France.
During his studies, he also did an internship, working as a database-software developer at ‘Hewlett-Packard’ in Paris.
In 1987, he joined ‘Pinault-Printemps-Redoute’ (PPR), which was known as ‘Pinault Distribution’ at the time. ‘PPR’ was founded by his father, François Pinault, in 1963.
Meanwhile, he served ‘France Bois Industries’ as the head manager in 1989. While ‘PPR’ evolved as a global player in the retail industry in the 1990s, François-Henri was made the president of the multinational industrial products distribution company ‘Compagnie Française de l’Afrique Occidentale’.
In 1997, he became the CEO of the French retail chain company ‘Fnac.’ He played a key role in divesting PPR’s retail industry, concentrating more on managing luxury brands.
Since May 2003, he has also been serving as the president of the French holding company ‘Groupe Artémis’ that controls the Pinault family assets.
In 2018, François-Henri Pinault announced his plan to outperform ‘Louis Vuitton’ over a period of time. In that same year, he confirmed Kering’s exit from the sports & lifestyle sector to focus solely on the luxury sector.
As of 2020, Francois Pinault’s net worth is $7 Billion dollars.
Here are some of the best highlights of Francois Pinault’s career:
- Honorary Chairman of Kering
- Pinault owns one of the largest collections of contemporary art worldwide
Favorite Quotes from Francois Pinault
“Sustainable development is a fundamental break that that’s going to reshuffle the entire deck. There are companies today that are going to dominate in the future simply because they understand that”. – Francois Pinault
“The passion for art is, as for believers, very religious. It unites people, its message is of common humanity. Art has become my religion – others pray in church. It’s a banality, but you don’t possess art, it possesses you. It’s like falling in love”. – Francois Pinault
“You don’t buy luxury to enter a community but to set yourself apart from others. The passion for arts is, as for believers, very religious. It unites people, its message is on common humanity. Art has become my religion-others pray in church. It’s a banality, but you don’t possess art, it possesses you. It’s like falling in love”. – Francois Pinault
“Linguistics is a good way of defining the culture of a brand. The vocabulary used by sports and lifestyle brands- running, fitness, training, motorsports – is all about functionality, whereas the vocabulary of the luxury business – handbags, ready – to wear – is all about the product”. – Francois Pinault
3 Business Lessons from Francois Pinault and Kering
Now that you know all about Francois Pinault’s net worth, and how he achieved success; let’s take a look at some of the best lessons we can learn from him:
1. It All Starts With the CEO
Pinault’s passion for sustainability convinced Daveu to join the company. At Kering, sustainability is seen as an opportunity. Sustainability creates value and stimulates innovation, explained Daveu.
In our vision, she added, sustainability is not only philanthropy but a new way to change the business and identify new business models.
2. We Are The Best, But We Can Do Better
Kering feels confident enough in its achievements that the company can admit that there is still so much left to do. You can do something and you have to do something.
This continuing improvement process becomes obvious when looking at all the company has accomplished so far – from publishing the group’s Ethical Charter and Code of Conduct outlining its sustainability commitments in 1996 to establishing a sustainability department in 2003 to publishing Puma’s EP&L in 2011 (and committing to publish one for the entire group by 2016) to announcing a five year sustainability plan in 2012.
3. Sustainable Business Requires Green Manpower
Kering comes down in favor of having a robust sustainability department. The company has with 50 people in total involved in determining and implementing the Group’s sustainability policy – 15 in the group’s sustainability department and 35 in the different brands.
François Pinault is a French entrepreneur and the chairman and CEO of French luxury goods holding company ‘Kering’ (erstwhile PPR). He is also the owner and president of a French holding company called ‘Groupe Artémis.’
As of 2020, Francois Pinault’s net worth is estimated to be $7 Billion dollars.